It appears the Cash For Clunkers program has hit another bump in the road.
Last week the Senate gave the green light for additional $2 billion dollars for the program, which President Obama approved on Friday.
The move gave consumers until Labor Day to trade in their gas guzzlers for more fuel efficient ones.
But now, there’s bad news coming from dealers.
Many dealerships are reporting running out of cars, especially popular hybrid models.
It’s a complete reversal of fortune from earlier this year when hard-hit dealers saw cars pile up as consumer largely shunned big-ticket purchases.
Action 4 News spoke to several Rio Valley dealerships who said they still have plenty of vehicles on stock.
Cash 4 Clunkers Guidelines:
- Passenger Cars: The old vehicle must get 18 mpg or less. New vehicles with improvement of at least 4 mpg will get a $3,500 voucher. New vehicles with improvement of at least 10 mpg will get a $4,500 voucher
- Light-Duty Trucks: The old vehicle must get 18 mpg or less. New vehicles with improvement of at least 2 mpg will get a $3,500 voucher. New vehicles with improvement of at least 5 mpg will get a $4,500 voucher
- Large light-Duty Trucks: The old vehicle must get 15 mpg or less. New vehicles with improvement of at least 1 mpg will get a $3,500 voucher or trade-in of a “work truck.” New vehicles with improvement of at least 2 mpg will get a $4,500 voucher
- Work Trucks: The old vehicle must be a pre-2002 model. New vehicles in the same or smaller weight class will get a $3,500 voucher.